Companies / RML

RESOLUTION MINERALS LTD

ASX:RMLMaterials
2.57B shares on issueASX (delayed) · snapshot 11 Sept 20263.78B fully diluted+47.2% if every option and right converts$0.060price · delayed$154.1Mmarket cap · indicative

Today’s holders own 67.9% of what they think they own, once every option and right converts.

Very high
Dilution risk

Share count grew 1176% in 24 months; runway 2–4 quarters; 7 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway3.0 quarters of funding
Share-count growth (24m)1176.3%
Raise cadence (24m)7 cash raises
Options & rights overhang47.2% of shares
In-the-money supply1.8% of shares
Pending proposed issuesopen proposed issue (Appendix 3B)

RESOLUTION MINERALS LTD undertook an approximately 1-for-8 share consolidation in November 2024. After adjusting for this consolidation, the company's ordinary share count grew 1176.3% between June 2024 and September 2026 to 2.57B shares. In the past 24 months, it raised capital seven times for total disclosed proceeds of A$51.4M, most recently a A$20.0M placement in April 2026. Options and rights on issue could convert into 1.21B new shares, representing 47.2% of the current share count, of which 2% are in the money at the current share price, with the nearest expiry in July 2028. As of the June 2026 quarter, the company reported A$16.7M in available cash, providing approximately 3.0 quarters of funding cover. One proposed securities issue (Appendix 3B) is pending, with an expected issue date in September 2026.

AI-generated summary of this page's cited filings · updated 10 Sept 2026
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47.2%
Options & rights overhang
1.8%
In-the-money supply · most strikes not on record
4
Raises · last 12 months
3.0 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Adjusted for the 1-for-8 consolidation (29 Nov 2024). Latest count 2.57B per ASX (delayed) (snapshot 11 Sept 2026).
0.5B1.0B1.5B2.0B2.5BDec 24Oct 25Sept 26Cash raise · 20 Apr 2026Cash raise · 28 Oct 2025Cash raise · 20 Oct 2025Cash raise · 15 Sept 2025Cash raise · 29 July 2025Cash raise · 20 June 2025Cash raise · 10 Mar 20252.57B

Cash runway

3.0 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Mar 2027 at the reported spend rate.
$16.6M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $10.3M cash at quarter end (item 4.6), 1.9 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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11 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
9 Sept 20262A · quoted issueRML : ORDINARY FULLY PAID2.57BAppendix 2A
4 Sept 20262A · quoted issueRML : ORDINARY FULLY PAID2.47BAppendix 2A
3 Sept 20263H · cancellationRML : ORDINARY FULLY PAID2.28BAppendix 3H
17 Aug 20262A · quoted issueRML : ORDINARY FULLY PAID2.28BAppendix 2A
17 Aug 20263G · unquotedORDINARY FULLY PAID2.28BAppendix 3G
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88 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

7 cash raises in the last 24 months · 4 in the last 12 months

every 2.2 monthsaverage gap between raises
4.8 monthssince the most recent
10 Mar 2025 – 20 Apr 2026first to most recent in this window
$20.0M
Placement
20 Apr 2026 ACTIVE
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20 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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8 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 20% of the 15% placement capacity left — about 80% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
Paid plan
1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

47.2%
Options & rights overhang · of current shares
1.8%
In-the-money supply · most strikes not on record
1.21B
Potential new shares
July 2028
Nearest expiry
What this supply is, and what converts it
  • Price-triggered994.7M · 38.7% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 936.7M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered217.6M · 8.5% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 58.0M priced (of which 45.0M in the money), 1.15B where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
606.1M1.21B$0.060 now0.25× today ($0.015) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.030) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.045) — 45.0M of the priced supply in the money, 1.8% of shares on issue1× today ($0.060) — 45.0M of the priced supply in the money, 1.8% of shares on issue1.25× today ($0.075) — 45.0M of the priced supply in the money, 1.8% of shares on issue1.5× today ($0.090) — 45.0M of the priced supply in the money, 1.8% of shares on issue2× today ($0.120) — 56.0M of the priced supply in the money, 2.2% of shares on issue3× today ($0.180) — 57.0M of the priced supply in the money, 2.2% of shares on issue5× today ($0.300) — 58.0M of the priced supply in the money, 2.3% of shares on issue10× today ($0.600) — 58.0M of the priced supply in the money, 2.3% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

At $0.060 today, 45.0M securities are in the money (1.8% of shares on issue) — a floor, because an exercise price is on record for only 4.8% of this supply. At double today’s price it is 56.0M (2.2% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 1.15B (95.2% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
CodeSecurityTypeExercise priceExpiryOn issueSource
RMLOCOptionsPrice-triggered—31 July 2028518.2MFiling
RMLABOptionsPrice-triggered$0.0912 Sept 202810.0MFiling
RMLAAOptionsPrice-triggered$0.03226 Mar 202945.0MFiling
RMLODOptionsPrice-triggered—30 Nov 2029418.5MFiling
RMLACOptionsPrice-triggered$0.102 Sept 20301.0MFiling
RMLANOptionsPrice-triggered$0.152 Sept 20301.0MFiling
RMLAOOptionsPrice-triggered$0.202 Sept 20301.0MFiling
RMLAHPerformance rightsCondition-triggered——217.6MFiling Meeting

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

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8 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
4 Sept 2026Mendel ROGATSKYOther incentive55.0M———3Y notice
30 June 2026Mendel ROGATSKYOther45.2M3.7M105.0M—3Y notice
27 Feb 2026Aharon ZAETZOther incentive——55—3Y notice
27 Feb 2026Syed ALSAGOFFOther incentive——5.0M—3Y notice
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14 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

10 Sept 2026$PDrill Program Successfully Completed at Horse Heaven
9 Sept 2026Application for quotation of securities - RML
8 Sept 2026Nasdaq Trading to Commence Today
4 Sept 2026Change of Director's Interest Notice
4 Sept 2026Application for quotation of securities - RML
3 Sept 2026Notification of cessation of securities - RML
23 Aug 2026$PMajor Gold Extension Confirmed at Golden Gate
17 Aug 2026Initial Directors Interest - B Lynch
17 Aug 2026Release of Securities from Voluntary Escrow
17 Aug 2026Notification regarding unquoted securities - RML
17 Aug 2026Cleansing Notice - Share Issue
17 Aug 2026Application for quotation of securities - RML
17 Aug 2026Proposed issue of securities - RML
17 Aug 2026Notice of 2026 General Meeting and Proxy Form
31 July 2026$PQuarterly Activities and Cashflow Report 30 June 2026
30 July 2026Notice of ceasing to be a substantial holder
21 July 2026Release of Securities from Voluntary Escrow
16 July 2026$PResolution Receives Second White House FAST-41 Status
13 July 2026$PDrill Program Progressing well at Horse Heaven Project
8 July 2026Cleansing Notice - Share Issue

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.